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PEERS & MARKETS
December 3 – 7, 2012
€85.57
$12.78
¥2,012
€32.27 +29.7%
₩46,950 -3.4%
7/12/2012 €8.86 +36.2%
7/12/2012
7/12/2012
7/12/2012
7/12/2012
7/12/2012
7/12/2012
-0.7%
+0.5%
+77.9% +0.6%
€70.9 +55.2%
-9.8%
+15.3% +1.2%
-0.9%
+1.4%
+2.4%
Pirelli Investor Relations - 10.12.2012
Source: Reuters
FTSE Mib +4.0% -0.7%
Pirelli +36.2% -0.7%
2
Pirelli on the Stock Market YTD Weekly
Performance
Consensus Target Price: €9.9
Buy: 57%
% Sell: 13%
% Hold: 30%
Market Cap: €4,196.4 mln (of which ord. € 4,129.4 mln)
PIRELLI & C. VS FTSE MIB - Trend from January, 1 to December, 7 2012
Sell side analysts evaluation on Pirelli & C (10/12/2012)
30-D
ec
6-J
an
13-J
an
20-J
an
27-J
an
3-F
eb
10-F
eb
17-F
eb
24-F
eb
2-M
ar
9-M
ar
16-M
ar
23-M
ar
30-M
ar
6-A
pr
13-A
pr
20-A
pr
27-A
pr
4-M
ay
11-M
ay
18-M
ay
25-M
ay
1-J
un
8-J
un
15-J
un
22-J
un
29-J
un
6-J
ul
13-J
ul
20-J
ul
27-J
ul
3-A
ug
10-A
ug
17-A
ug
24-A
ug
31-A
ug
7-S
ep
14-S
ep
21-S
ep
28-S
ep
5-O
ct
12-O
ct
19-O
ct
26-O
ct
2-N
ov
9-N
ov
16-N
ov
23-N
ov
30-N
ov
7-D
ec
Pirelli Investor Relations - 10.12.2012
Source: Reuters
Markets
3
Pirelli Investor Relations - 10.12.2012
DJ STOXX AUTO & PARTS: +0.8%
EUROPE: WEEKLY TREND 03/12/2012 – 07/12/2012 TYRES & AUTO STOCKS vs DJ STOXX AUTO & PARTS
Source: Reuters
TYRE
Pirelli & C. vs Auto & Parts Sector
AUTO
Pirelli & C Continental Michelin Nokian Fiat Auto Fiat
Industrial Renault Peugeot Volkswagen BMW Daimler
4
-1.5 pp -0.2 pp -1.7 pp -0.3 pp
+0.7 pp
-0.6 pp -0.9 pp
-4.8 pp
-0.5 pp
+0.4 pp +1.4 pp
Pirelli Investor Relations - 10.12.2012
Pirelli vs FTSE Mib relative performance (YTD)
5
2011 FY Relative performance:
FTSE Mib (YTD): +4.0%
Performance from January 1 to December 7, 2012
-48
.8p
p
-45
.5p
p
-40
.3p
p -2
3.5
pp
-22
.6p
p
-19
.1p
p
-17
.8p
p
-13
.8p
p
-10
.1p
p
-9.7
pp
-6.9
pp
-5.8
pp
-5.0
pp
-2.7
pp
-2.2
pp
-0.6
pp
1.6
pp
4.3
pp
5.7
pp
6.6
pp
6.6
pp
7.2
pp
7.7
pp
10
.2p
p
16
.8p
p
17
.2p
p
20
.7p
p
28
.7p
p
29
.7p
p
32
.2p
p
33
.1p
p
36
.9p
p
38
.3p
p
39
.1p
p
40
.6p
p
41
.4p
p
44
.4p
p
46
.6p
p 6
3.4
pp
65
.6p
p
A2
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Ubi b
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Sn
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Inte
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SP
Au
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Fia
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An
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Stm
Cam
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Atla
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En
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Ge
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Ba
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Exo
r
Me
dio
lan
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Fia
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Pa
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lat
BP
M
Pir
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Imp
reg
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Bu
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Lo
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ma
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Fin
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Dia
so
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Lu
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Pry
sm
ian
TO
D'S
Fe
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mo
Azim
ut
-4.2pp
-57.7pp
-27.6pp
+27.3pp
-39.8pp
+11.1pp
-33.3pp
+14.4pp
+9.3pp
-8.0pp
+23.7pp
+16.8pp
-6.8pp
-3.5p
p
-21.8pp
+5.2p
p
+4.3p
p
-16.2pp
+30.8pp
+7.6p
p
+10.3pp
+22.6pp
+21.3pp
+24.9pp
+22.0pp
+25.1pp
+18.1pp
+22.3pp
+25.3pp
+21.2pp
+38.1pp
+18.7pp
+24.4pp
+23.3pp
+25.8pp
+20.4pp
+0.5p
p
+10.5pp
+19.9pp
+26.3pp
Pirelli Investor Relations - 10.12.2012
CONSENSUS PEERS TYRE MARKET MULTIPLES AT 10/12/2012 Source: Pirelli IR analysis on Bloomberg data
Tyre Sector evaluation Multiples
6